All landmark rulings

1. Direct Tax ·HP High Court · 10 Sep 2014
   Whether the assessee is eligible for deduction u/s 80IC if it is engaged in the manufacture of a product

   CIT. Vs. PAWAN AGRAWAL

   (2014) TaxCorp(LJ) 4108 (HC-HP) · Income Tax - Section 80IC

2. Direct Tax ·Bombay High Court · 03 Sep 2014
   Whether netting up of profits from all the overseas project is mandated for ascertaining quantum of deduction u/s 80HHB

   CIT. Vs. HINDUSTAN CONSTRUCTION COMPANY LTD.

   (2014) TaxCorp(LJ) 4107 (HC-BOMBAY) · Income tax - Section 80HHB

3. Direct Tax ·Allahabad High Court · 09 Sep 2014
   Whether in case, the building which is leased out by the assessee is nothing else but a building simplicitor and is not a building, which is equipped with specialized plant and machinery, the same can be treated as a 'plant'.

   HOTEL ARTI DELUX PVT LTD. Vs. ACIT

   (2014) TaxCorp(LJ) 4106 (HC-ALLAHABAD) · Income Tax - Sections 14, 22, 260A

4. Direct Tax ·ITAT Delhi · 05 Sep 2014
   Whether when there is common shareholder for two companies, certain payments made towards deputation costs by one company to another can necessarily be construed as a colourable device

   DYNATRON SERVICES PVT LTD. Vs. ACIT

   (2014) TaxCorp(LJ) 4105 (ITAT-DELHI) · Income tax – Sections 127(2), 132, 142(1), 143(2), 153A

5. Direct Tax ·ITAT Delhi · 08 Sep 2014
   Whether when the assessee incures certain expenditure in the run up to the commencement of income such expenditures are to be treated as revenue in nature

   JCDECAUX ADVERTISING INDIA PVT LTD. Vs. DCIT

   (2014) TaxCorp(LJ) 4104 (ITAT-DELHI) · Income tax - Sections 3, 4

6. Direct Tax ·ITAT Lucknow · 05 Sep 2014
   Whether when an exporter on ground of receiving advance payment allows discount to a non-resident buyer without having any contractual obligation for the same, he is liable for tax deduction at source u/s 195 on amount of discount allowed on such sales

   DCIT. Vs. M/s KOTHARI FOOD AND FRAGRANCES

   (2014) TaxCorp(LJ) 4103 (ITAT-LUCKNOW) · Income tax - Sections 40(a)(i), 194 C, 194 H, 195

7. Direct Tax ·Supreme Court · 15 Sep 2014
   SC - Proviso to Sec. 113 to operate prospectively; proviso cannot be treated as declaratory/statutory or curative in nature

   CIT vs Vatika Township Private Limited

   (2014) TaxCorp(LJ) 4102 (SC)

8. Direct Tax ·Supreme Court · 04 Sep 2014
   AOP not formed by volition of the parties, Income from compulsory acquisition not business income

   CIT Vs GOVINDBHAI MAMAIYA

   (2014) TaxCorp(LJ) 4101 (SC)

9. Direct Tax ·ITAT Mumbai · 12 Sep 2014
   S. 253: Filing appeals in disregard & wilful disobedience to the law laid down constitutes gross abuse of power and deserves to be punished for contempt of court and by award of exemplary costs. Action not pursued in view of written apology of concerned officials

   ACIT vs. M/s. Veena Developers

   (2014) TaxCorp(LJ) 4100 (ITAT-MUMBAI) · Section 253

10. Direct Tax ·Karnataka High Court · 10 Sep 2014
    S. 263: TPO’s acceptance of ALP shows two views are possible & CIT has no jurisdiction to revise assessment

    CIT vs. SAP Labs Pvt. Ltd

    (2014) TaxCorp(LJ) 4099 (HC-KARNATAKA) · Section 263

11. Direct Tax ·ITAT Bangalore · 10 Sep 2014
    AO’s action of giving effect to a quashed s. 263 revision order termed “assault on rule of law” & “contempt of court”

    DCIT vs. SAP Labs India Pvt. Ltd

    (2014) TaxCorp(LJ) 4098 (ITAT-BANGALORE)

12. Direct Tax ·Bombay High Court · 12 Sep 2014
    S. 254(1): Unnecessary remand by the ITAT causes prejudice and amounts to a failure to exercise jurisdiction

    Coca-Cola India Private Limited vs. ITAT

    (2014) TaxCorp(LJ) 4097 (HC-BOMBAY) · Section 254(1)

13. Direct Tax ·ITAT Hyderabad · 10 Sep 2014
    ITAT – Disallowance of business expenditure not a ground for reassessment beyond period of four years

    ITO Vs ESBEE HOLDINGS PVT. LTD

    (2014) TaxCorp(LJ) 4096 (ITAT-HYDERABAD)

14. Direct Tax ·ITAT Delhi · 10 Sep 2014
    ITAT – Long term capital loss resulting from adjustment of advances not a sham transaction

    CONSOLIDATED FINVEST & HOLDINGS LTD Vs ACIT

    (2014) TaxCorp(LJ) 4095 (ITAT-DELHI)

15. Direct Tax ·ITAT Lucknow · 09 Sep 2014
    S. 143(2)(ii): Fact that case is selected for scrutiny under CASS does not mean s. 143(2) notice & assessment order are void for non-application of mind by AO

    U.P. State Industrial Development Corp (UPSIDC) vs. DCIT

    (2014) TaxCorp(LJ) 4094 (ITAT-LUCKNOW) · Section 143(2)(ii)

16. Direct Tax ·ITAT Hyderabad · 09 Sep 2014
    S. 145: Even if assessee is following mercantile system, income cannot be assessed, on “real income” vs. “hypothetical income” theory, if its collection/ receipt is not certain

    Maruti Securities Ltd vs. ACIT

    (2014) TaxCorp(LJ) 4093 (ITAT-HYDERABAD) · Section 145

17. Direct Tax ·Gujarat High Court · 09 Sep 2014
    S. 68: Purchases cannot be treated as “bogus” only on the ground that the suppliers are not traceable

    CIT vs. Nangalia Fabrics Pvt. Ltd

    (2014) TaxCorp(LJ) 4092 (HC-GUJARAT) · Section 68

18. Direct Tax ·ITAT Pune · 30 Jan 2014
    Deduction U/s. 80-IB(10) available on additional income offered u/s 132(4) in return filed u/s 153A

    Malpani Estates Vs. ACIT

    (2014) TaxCorp(LJ) 4091 (ITAT-PUNE) · Sections. 80-IB(10), 132(4), 153A

19. Direct Tax ·ITAT Mumbai · 27 Aug 2014
    For f indexation, date should be reckoned from the date from which the original owner held the property

    ITO. Vs. Mrs. Bibi Siddiqua Husaini

    (2014) TaxCorp(LJ) 4090 (ITAT-MUMBAI)

20. Direct Tax ·Allahabad High Court · 12 May 2014
    Can High Court Interfere with discretion of Settlement Commission?

    M/s. Vinay Wire & Poly Product Pvt. Ltd. And Anr Vs. Director General Of Central Excise And 2 Ors.

    (2014) TaxCorp(LJ) 4089 (HC-ALLAHABAD)

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